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Chapter 31 discussed politics, deficits, and debt. The global current account deficit of the United States is now larger than it has ever been, nearing $800 billion, almost 7% of U.S GDP. To finance both the current account deficit and its own sizable foreign investments, the United States must import about $1 trillion of foreign capital every year or more than $4 billion every working day (Delong, J...

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Chapter 31 discussed politics, deficits, and debt. The global current account deficit of the United States is now larger than it has ever been, nearing $800 billion, almost 7% of U.S GDP. To finance both the current account deficit and its own sizable foreign investments, the United States must import about $1 trillion of foreign capital every year or more than $4 billion every working day (Delong, J...